Stock upgrades and downgrades are a controversial part of Wall Street. Despite regulations, many banks and firms still have a positive bias toward current clients and companies desired as future clients. In addition, Wall Street analysts are straight-up biased to the buy side. The percentage of sell recommendations is normally below 15 percent!
Regardless, upgrades and downgrades move stocks in the short-term. They fall into our CHEAT SHEET framework category ‘C = Catalyst for a Stock?s Movement’. Here are catalysts you must know today:
Life Technologies Corporation (NASDAQ:LIFE): Credit Suisse downgraded its rating on this company from Outperform to Neutral.
Piedmont Office Realty Trust (NYSE:PDM): Morgan Stanley downgraded its rating on this company from Equal Weight to Underweight.
Enbridge (NYSE:ENB): UBS AG downgraded its rating on this company from Buy to Neutral.
PAA Natural Gas Storage (NYSE:PNG): Citigroup downgraded its rating on this company from Buy to Neutral.
Sinclair Broadcast Group (NASDAQ:SBGI): Gabelli downgraded its rating on this company from Buy to Hold.
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